Fyre Festival sells on eBay for $245K, a sum so low it wouldn’t have been able to afford disgraced founder Billy McFarland some tickets at his own event

Billy McFarland, sitting in front of a lit blue background, looks forward and frowns. (Credit: Theo Wargo—Getty Images)

• Billy McFarland’s Fyre Festival chapter has come to a close. The disgraced owner of the brand behind the disaster luxury music festival sold its intellectual property for $245,300 on eBay. The sum falls far short of some of the ticket options McFarland previously promised for a planned Fyre Festival event, including a $1.1 million package. The final bid falls further still than the $26 million in restitution following McFarland’s wire-fraud conviction.

Fyre Festival, the troubled luxury music event and brainchild of disgraced founder Billy McFarland, sold on eBay for $245,300 on Tuesday, with 42 bidders putting 175 bids on the brand.